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Your loan information report includes the following information: Personal Information. This section details information such as your full name (as per NRIC/other official ID) and ID number as submitted by Licensed Moneylenders (LMLs). Loan Summary.
You can also obtain your credit report at any of the following offices. A transactional fee of $0.50 applies. Moneylenders Credit Bureau Office 2 Shenton Way #20-02 SGX Centre 1 Singapore 068804 Tel: +65 6565 6363.
Moneylenders Credit Bureau i. Press Release New Credit Bureau to Support Prudence in Borrowing and Lending (53KB) ii. Infographic The...
MLCB is a central repository of data on borrowers' loans and repayment records with all licensed moneylenders (LMLs) in Singapore. It will allow LMLs to assess the creditworthiness of borrowers and make informed decisions when granting loan applications.
Oct 10, 2023 · What is a MLCB Report? Your MLCB report serves as a comprehensive record of your loan payment history, compiled from various LMLs. As part of their assessment process, LMLs are required to review your loan credit report to gauge your creditworthiness before approving a loan.
Nov 25, 2022 · The Moneylenders Credit Bureau Loan Information Report records a borrower's loan payment history to Licensed Moneylenders in Singapore. Learn more. Do you know what does this report contain?
It will allow licensed moneylenders to assess the creditworthiness of borrowers, and help to prevent borrowers from borrowing beyond their means. From 1 March 2016, licensed moneylenders will purchase a borrower’s credit report from the MLCB before granting a loan.
Article 1: Understanding Your Credit Report. Article 2: Understanding Your Loan Information Report. Credit Bureau Singapore (CBS) A credit report is a comprehensive record of your credit payment history compiled from different retail banks and major financial institutions.
Jun 10, 2024 · Since July 1, 2021, for the moneylending businesses, the Ministry of Law (MinLaw) has designated CBS as the new operator of the Moneylenders Credit Bureau (MLCB) by providing comprehensive information about an individual's loan history, credit standing, and financial situation.
Apr 16, 2024 · Through the provision of Loan Information Reports, MLCB facilitates LMLs in making well-informed decisions regarding loan applications from prospective borrowers. Simultaneously, it empowers borrowers to effectively manage their loans and financial circumstances.
